The Globe and Mail reports in its Saturday edition that economists make a distinction between non-discretionary and discretionary purchases. The Globe's John Heinzl writes that non-discretionary items include things such as food, medicine and, unless you live in the forest, toilet paper. A $2,000 winter coat, on the other hand, falls squarely into the discretionary category. You might really want a Canada Goose parka, but if money is tight and your goal is simply to stay warm, a North Bay dinner jacket layered over two or three sweaters from Value Village will do the job. All of this helps to explain why Canada Goose's stock price continued to sink this year, as rising interest rates and inflation cut into consumers' disposable incomes. For its second quarter ended Oct. 1, sales rose just 1 per cent year-over-year to $281.1-million, prompting the company to slash its fiscal 2024 revenue and earnings forecasts, citing "the increasingly challenging global macro-economic and geopolitical environments." It is enough to make one nostalgic for the prepandemic days when Canada Goose briefly topped $90 a share. However, with the stock touching record lows this year, investors are clearly cutting loose from the Goose.